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AlexdeLarge
Intermediate Crude
Joined: May 20, 2008
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Location: I have a whole ward
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cube
Fusion
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Joined: Mar 12, 2005
Posts: 3776
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 Posted: Thu Nov 06, 2008 1:46 am Post subject: Re: Taking A Bite Out of the Big Apple |
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I never knew a city could impose an income tax, I thought that was the exclusive domain of Federal + State government ......NOT local government.
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joeltrout Oct-2008: Dow 13,000 in three years
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ReverseEngineer
Light Sweet Crude
Joined: Jul 16, 2008
Posts: 1431
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| Posted: Thu Nov 06, 2008 2:18 am Post subject: Re: Taking A Bite Out of the Big Apple |
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| cube wrote: | I never knew a city could impose an income tax, I thought that was the exclusive domain of Federal + State government ......NOT local government.
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Where do you figure the money comes from to run a Police Force the size of New York's Finest, a Fire Department the size of New York's Bravest, and a Sanitation Department the size of New York's Cleanest? LOL. Not to mention the miles of city owned roads and underlying infrastructure of tunnels and cables and of course those Water Tunnels that bring the water from the upstate watershed into NYC?
Some property taxes do the job also, but a city like NY is one VERY expensive proposition to run. It sure doesn't help the Bottom Line of such a city when some of their HIGHEST taxpayers, like the brokers from Lehman and Lehman itself is Outta Biz. Not to mention big taxpayers like Goldman will no doubt show a LOSS on tax returns this year and even though functioning won't be paying taxes EITHER. No Profit here to tax.
How will NYC PAY New York's Bravest and Finest next year? When I lived in NY, I paid my Income Tax there along with the State And Fed Income taxes. Its the price you have to pay to run such lage organizations, so you can have roads to travel on, police to protect your property, a military to protect your nation.
Taxes can only work however in a functioning economy that really produces something, and with the collapse of the Financial Industry and Trade coming to about a complete STANDSTILL, its hard to see exactly what a city like NY actually PRODUCES?
Lining up at the Fed for a Bailout next year will be NYC, along with many of our major metros. They will print more Funny Money to pay the salaries of New Yorks Finest and Bravest, because without them the cities will devolve into chaos and they will Burn. Maybe the Funny Money works for another year to keep the system going. Not much longer than that though.
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GeneralGreen
Heavy Crude
Joined: Jul 04, 2008
Posts: 233
Location: Europe: European Historian
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| Posted: Thu Nov 06, 2008 3:32 am Post subject: Re: Taking A Bite Out of the Big Apple |
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The worse thing to do in bad economic times is raise the working classes taxes in any form..it turns counterproductive..most will work for less or move or find some other alternative.
If NY wants money do like everyone else..go beg the fed for a bailout |
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Consensi
Tar Sands
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Joined: May 28, 2008
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| Posted: Thu Nov 06, 2008 3:41 am Post subject: Re: Taking A Bite Out of the Big Apple |
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I am relatively new here but I noticed one thing real quickly - certain posters couch almost every post in a political vein.
Maybe if NY (blue) didn't have to carry a lot of the expenses of other states (red) they could keep more of what they produce.
Spreading the wealth around seems to be a one way street from Blue to Red:
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Sys1
Intermediate Crude
Joined: Feb 25, 2005
Posts: 678
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| Posted: Thu Nov 06, 2008 6:30 am Post subject: Re: Taking A Bite Out of the Big Apple |
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What about the tower of liberty by the way?  |
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Leanan
News Editor
Joined: May 20, 2004
Posts: 4567
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| Posted: Thu Nov 06, 2008 7:49 am Post subject: Re: Taking A Bite Out of the Big Apple |
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| cube wrote: | | I never knew a city could impose an income tax, I thought that was the exclusive domain of Federal + State government ......NOT local government. |
Back when I worked in NYC, they not only imposed an income tax...they imposed an income tax on people who didn't even live in the city. If you worked there, you had to pay.
Their justification: people who work in the city are using NYC's roads and bridges, buses and trains. They're using the city water and sewer systems, polluting the city air, and helping fill up the city landfills. So they should pay income taxes.
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"The problems of today will not be solved by the same thinking that produced the problems in the first place." - Albert Einstein |
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Fishman
Intermediate Crude
Joined: Aug 11, 2005
Posts: 815
Location: Eastern NC
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| Posted: Thu Nov 06, 2008 8:02 am Post subject: Re: Taking A Bite Out of the Big Apple |
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GG
That seems self evident, but apparently 52% of the American people couldn't figure this out. |
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frankthetank
Fusion
Joined: Sep 16, 2004
Posts: 4836
Location: Southwest WI
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| Posted: Thu Nov 06, 2008 8:48 am Post subject: Re: Taking A Bite Out of the Big Apple |
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I'm a blue state and have been in this high taxed hellhole for my whole life. Wisconsin has been giving and giving to the rest of these welfare cases in the red states. I want my money back! I guess when your state produces DELICIOUS cheddar cheese along with yummy swiss, colby, and muenster...everyone wants a bite 
rant over...
NY should tax those high class socialites right out of their Central Park mansions?
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cube
Fusion
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Joined: Mar 12, 2005
Posts: 3776
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| Posted: Thu Nov 06, 2008 12:21 pm Post subject: Re: Taking A Bite Out of the Big Apple |
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| GeneralGreen wrote: | The worse thing to do in bad economic times is raise the working classes taxes in any form..it turns counterproductive..most will work for less or move or find some other alternative.
If NY wants money do like everyone else..go beg the fed for a bailout |
You are making the common mistake of believing there is always a desirable choice available. That's not how life works.
Look at it this way if given a choice, would you rather have your hand cut off or your arm?
If you sit there and hesitate and say, "how about neither!" ---> you get your arm cut off.
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joeltrout Oct-2008: Dow 13,000 in three years
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cube
Fusion
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Joined: Mar 12, 2005
Posts: 3776
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| Posted: Thu Nov 06, 2008 12:57 pm Post subject: Re: Taking A Bite Out of the Big Apple |
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| frankthetank wrote: | ....
rant over...
NY should tax those high class socialites right out of their Central Park mansions? |
FYI a lot of financial firms are registered in the Cayman Islands and Bermuda (Zero income tax).
NYC is a major financial center "operations wise" but "tax wise" nobody is registered there.
What's the lesson learned here?
The rich have good tax lawyers *YOU and I* don't.
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joeltrout Oct-2008: Dow 13,000 in three years
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frankthetank
Fusion
Joined: Sep 16, 2004
Posts: 4836
Location: Southwest WI
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| Posted: Thu Nov 06, 2008 1:42 pm Post subject: Re: Taking A Bite Out of the Big Apple |
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Cube-
Trane company here in La Crosse (huge employer) is owned by Ingersoll-Rand which is based out of Bermuda... They have a mailbox there that has saved them billions... What a crock of crap.
Pretty soon the middle will disappear (the jobs will go with them) and the rich will move to their tax havens and watch from afar with remote webcams and streaming video and laugh while frolicking on the beach...
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Javaman
Heavy Crude
Joined: Jun 18, 2008
Posts: 135
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| Posted: Thu Nov 06, 2008 8:51 pm Post subject: Re: Taking A Bite Out of the Big Apple |
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| Consensi wrote: |
I am relatively new here but I noticed one thing real quickly - certain posters couch almost every post in a political vein.
Maybe if NY (blue) didn't have to carry a lot of the expenses of other states (red) they could keep more of what they produce.
Spreading the wealth around seems to be a one way street from Blue to Red:
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Try taking each state's per capita income into account, that might explain some of it. Maybe this is a good argument for a more limited federal government. |
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AlexdeLarge
Intermediate Crude
Joined: May 20, 2008
Posts: 942
Location: I have a whole ward
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| Posted: Sun Nov 09, 2008 11:22 am Post subject: Re: Taking A Bite Out of the Big Apple |
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MTA To Toll All East River Bridges
Cash-Strapped MTA About To Drop Hammer On Everyone.
Feeling that tingle yet? How about this one!
'If I had a nickel for every bag"
Mayor Bloomberg wants to nickel and dime you at the grocery store - taxing you an extra 5 cents for every plastic bag you take home.
They are just getting warmed up..........now they will get creative in tapping your wallet! LOL
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Viddy well, little brother. Viddy well. |
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Snowrunner
Intermediate Crude
Joined: Aug 24, 2005
Posts: 643
Location: Screwed
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| Posted: Sun Nov 09, 2008 1:46 pm Post subject: Re: Taking A Bite Out of the Big Apple |
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| AlexdeLarge wrote: | Mayor Bloomberg wants to nickel and dime you at the grocery store - taxing you an extra 5 cents for every plastic bag you take home.
They are just getting warmed up..........now they will get creative in tapping your wallet! LOL |
So what? In Europe they charge you 10 cents a bag as long as I can remember. The solution? Bring your own bag.
I always love how people get all hot and bothered over consumption charges. Though on the other hand. How dare BC Hydro send me an invoice every month for using electricity, it should just be free. |
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